France's Elengy implements measures to comply with Russian LNG sanctions

France's Elengy has implemented the necessary measures to comply with the EU's 14th sanctions package regarding the ban on transshipment of Russian-origin LNG at EU ports from March 2025, a company spokesperson said Nov. 28.

The EU's 14th sanctions package, adopted in June, prohibits the reloading of LNG from Russia for export to non-EU countries from March 2025 onward, among other targeted measures to stifle Russia's LNG sector.

"As soon as we became aware, Elengy put in place the necessary measures to comply with the 14th sanctions package of European sanctions in collaboration with the French authorities," the spokesperson said in an emailed statement.

"The obligations created by the package of sanctions and the procedures for applying them in France have been set out in a joint memo from the Treasury and Energy and Climate Secretariat to LNG market players," the spokesperson said.

Elengy operates three LNG terminals in France -- the Fos Cavaou and Fos Tonkin terminals on the Mediterranean coast, and the Montoir-de-Bretagne terminal on the Atlantic coast.

It has offered transshipment services at the Montoir LNG terminal since 2013, and the facility is used for transshipment of Russian LNG from the Novatek-operated Yamal plant in northern Russia.

The development follows an update from Belgian LNG terminal operator Fluxys on Nov. 22 that stated it was ready to implement the EU sanctions at its Zeebrugge LNG terminal once the measures take effect in March 2025.

The EU has imported some 13.9 million mt of Russian-origin LNG so far in 2024, according to data from S&P Global Commodity Insights, with France the biggest importer followed by Spain and Belgium.

French imports of Russian LNG so far in 2024 have reached 5.4 million mt compared with 3.5 million mt for the whole of 2023, according to Commodity Insights data.

Spot LNG prices for delivery to Northwest Europe remain high on the back of supply-side concerns, increased storage withdrawals and colder temperatures across the Continent.

Platts, part of Commodity Insights, last assessed the Northwest Europe spot LNG marker at $14.27/MMBtu Nov. 28.